Global News | U.S. stocks rise, European Central Bank fines JPMorgan Chase a record high

【US Stock Indexes】

On Friday, February 20 (Eastern time), all three major U.S. stock indexes rose together. The S&P 500 index rose 0.69% to 6909.51 points; the Dow Jones index rose 0.47% to 49,625.97 points; and the Nasdaq index rose 0.90% to 22,886.07 points.

【U.S. Treasuries】

On February 20, the benchmark 10-year U.S. Treasury yield was 4.08%, and the 2-year U.S. Treasury yield, which is most sensitive to the Federal Reserve’s policy rate, was 3.48%.

【Popular U.S. Stocks】

Among popular U.S. stocks, Nvidia rose 1.02%, Apple rose 1.54%, Google Class A rose 4.01%, Google Class C rose 3.74%, Microsoft fell 0.31%, Amazon rose 2.56%, TSMC rose 2.82%, Meta rose 1.69%, Tesla rose 0.03%, Advanced Micro Devices fell 1.58%, Intel fell 1.14%.

【Global Indexes】

【China Indexes】

On February 20, overnight Hang Seng Tech Index futures fell 3.30%, and the Nasdaq China Golden Dragon Index fell 0.05%.

【China Concept Stocks】

Among popular China concept stocks, Tencent Holdings (Hong Kong) fell 2.06%, Alibaba rose 0.12%, PDD rose 2.93%, NetEase fell 0.63%, Baidu fell 0.91%, Trip.com fell 1.39%, Li Auto fell 0.22%, XPeng fell 0.73%, and Nio rose 2.84%.

【FX Commodities】

【Global Headlines】

The initial reading of the S&P Global Manufacturing PMI for February in the U.S. was 51.2, versus 52.6 expected and 52.4 prior

The initial reading of the S&P Global Manufacturing PMI for February in the U.S. was 51.2, versus 52.6 expected and 52.4 prior. The initial reading of the S&P Global Services PMI for February in the U.S. was 52.3, versus 53 expected and 52.7 prior.

OpenAI’s smart speaker priced at $200–300 is scheduled to ship no earlier than February 2027

OpenAI’s smart speaker priced at $200–300 is scheduled to ship no earlier than February 2027. (Sina Finance)

The European Central Bank fines JPMorgan Chase €10 million

On the 19th, the European Central Bank announced an administrative fine of €12.18 million for JPMorgan Chase’s European subsidiary because the bank violated reporting rules by providing incorrect information regarding capital requirements. It is said to be the highest fine amount issued by the ECB to date. In a statement on the same day, the ECB said that from 2019 to 2024, JPMorgan Chase’s reported risk-weighted assets were below its actual level. This was because, for 15 consecutive quarters, it incorrectly classified exposures to corporate risk and used credit risk weights lower than those prescribed by banking rules. In addition, JPMorgan Chase also improperly excluded certain transactions when calculating risk-weighted assets for 21 consecutive quarters. The statement said JPMorgan Chase submitted incorrect financial data to the ECB, preventing the ECB from gaining a full understanding of its risk position. JPMorgan Chase is one of the largest banks in the United States. Regarding the ECB fine, a spokesperson for JPMorgan Chase said on the day that the company has made corrections and will maintain a “sound and prudent” approach with respect to capital adequacy. (China Central Television News)

Tesla cuts the Cyberbeast version price of its electric pickup Cybertruck from $115,000 to $99,990

According to the official website, Tesla has lowered the U.S. price of the Cyberbeast version of its electric pickup Cybertruck from $115,000 to $99,990. (Caixin)

Nvidia is close to finalizing a $30 billion investment with OpenAI

Nvidia is close to finalizing a $30 billion investment with OpenAI, which will replace the $100 billion long-term commitment that the two companies reached last year.